Financial Crime

Anti-Money Laundering

UN Security Council Resolution Targets Terrorism Financing

By Editors | 01/04/2019

The UN Security Council has adopted a resolution calling on member states to beef up efforts to identify, prosecute and penalise those directly or indirectly financing terrorism.

Anti-Money Laundering

Malaysia Mulls Cash Transaction Limit as AML Measure

By Editors | 01/04/2019

Bank Negara Malaysia will conduct a public consultation by Q3 to gather feedback on the implementation of a cash transaction limit, what it should be, and whether it is even desirable.

KYC & CDD

Philippines to Launch Digital Banking ID Registry This Year

By Editors | 31/03/2019

The blockchain powered ID registry will enable electronic KYC and make it easier for clients to access banking services.

Conduct, Culture & Accountability

ASIC ‘Ready to Prosecute’ Underperforming Super Funds

By Editors | 30/03/2019

Australian regulators are trying to force an estimated 100 small and poor performing super funds out of the system using criteria devised by the Productivity Commission.

Conduct, Culture & Accountability

The MAS Approach to Cultivating Ethical Culture in Banking

By Manesh Samtani | 29/03/2019

MAS emphasises incentive structures as the key to driving ethical behaviour and encourages banks to adopt good practices highlighted in a new information paper.

Market Abuse

Singapore Charges Three for Spoofing Index Futures

By Editors | 28/03/2019

In a MAS-CAD joint investigation, three individuals are being charged for allegedly spoofing SGX-MSCI index futures and giving false statements to SGX.

Fraud, Scams & Cybercrime

India’s PNB Fined for Non-Compliance with SWIFT Norms

By Editors | 27/03/2019

The fine is significant because it was at Punjab National Bank where the $1.8b fraud occurred that prompted the RBI’s order for banks to link their core systems with SWIFT.

Market Abuse

Citigroup Faces $1.2m Fine in Japan over Alleged JGB Manipulation

By Editors | 27/03/2019

Citigroup’s London office allegedly placed large orders in the 10-year JGB futures market outside of Japanese trading hours that were not executed, but may have mislead investors.

PEPs & Sanctions

HKEX Offers Listing Applicants Guidance on Sanctions Risk

By Stephen Peepels | 26/03/2019

International law firm Hogan Lovells says the HKEX guidance provides significant insight into how it will consider international trade and sanctions issues in the context of IPO transactions.